Upi Transactions

Two in five merchants unwilling to bear any MDR on UPI payments: Survey

LocalCircles survey finds 41% of merchants unwilling to bear any MDR on UPI payments above ₹2,000, while only 17% would accept a charge of 0.3% or more

Major turning point in India's digital payment journey: PM on 10 yrs of UPI

On completion of a decade of the Unified Payments Interface, Prime Minister Narendra Modi on Tuesday hailed it as a major turning point in India's digital payment journey and said its sheer scale is something every Indian must be proud of. The UPI was launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI). The UPI has emerged as the backbone of India's digital payments ecosystem and a critical driver of financial inclusion. "A decade ago, UPI was rolled out, marking a major turning point in India's digital payments journey. The sheer scale and reach of UPI are something every Indian must be proud of," Modi said in a post on X. The prime minister also asked people to share with him their UPI experience and how it impacted the life. Over a decade of operations, the UPI has demonstrated extraordinary scale and momentum in the country. Annual transaction volume expanded from just 1.78 crore in .

UPI completes 10 years as transaction volume jumps nearly 13,000-fold

Annual UPI transaction volume rose from 1.78 crore in FY17 to over 24,162 crore in FY26, while transaction value climbed to around ₹314 lakh crore

UPI completes 10 years, clocks nearly 13k fold rise in transaction volume

The Unified Payments Interface (UPI), which was launched on August 25, 2016, has completed a decade of transforming India's digital payments landscape, emerging as the backbone of the country's digital payments ecosystem and a global benchmark for real-time payments. Annual UPI transaction volume rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an almost 13,000-fold increase, the finance ministry said in a statement. During the same period, transaction value jumped from Rs 0.07 lakh crore to around Rs 314 lakh crore, representing a more than 4,000-fold rise, it said. Developed by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), UPI has recorded an unprecedented expansion in both transaction volume and value over the past 10 years, it said. The year 2026 marked a significant milestone in the growth trajectory of UPI, it said, adding that monthly transaction volumes crossed 2,300 crore for the fi

MDR on UPI payments: Six rules govt must settle before charges can start

The Bill opens the door to selective UPI MDR, but leaves the operating details undecided. Here are six questions the final framework will need to answer before any charge takes effect

UPI vs cards: Why merchants pay MDR on cards but not on UPI payments

UPI payments are free for merchants, while card transactions carry MDR. Here's why the two digital payment systems have different costs and how a possible UPI charge could work

Free for users, costly to run: The economics behind India's UPI system

UPI remains free for consumers and merchants, but the cost of running India's digital payment infrastructure has revived the debate over MDR, subsidies and platform fees

Small merchants built UPI's reach. Here's what government data shows

Small merchants have driven UPI's mass adoption. Here's why defining who qualifies as a small merchant matters as the government creates a framework for potential MDR

UPI MDR debate: Why ₹2,000 is in focus and what it means for users

The government has not notified ₹2,000 as an MDR threshold, but the existing incentive framework and transaction data explain why the number dominates the debate

Best of BS Opinion: The case for keeping UPI free outweighs its infra costs

Today's columns examine the case for keeping UPI free, Punjab's shifting political landscape, General A S Vaidya's forgotten legacy and the rise of founders as brand ambassadors.

Best of BS Opinion: Tribunals Bill can make hiring framework more robust

Today's opinions examine tribunal appointments, aviation leadership, consultation gaps in ethanol and UPI policy, philanthropic capital for science, and a true-crime investigation.

Is UPI ending free payments? Here's what Finance Minister Sitharaman said

UPI users won't pay a transaction fee for now, but a proposed MDR framework could change how some merchant payments work.

MDR in future only on some merchant UPI transactions: FM Sitharaman

"No MDR framework has yet been finalised," Sitharaman said. She added that consumers would continue to make instant digital payments through UPI without paying a transaction charge

NPCI targets Indian diaspora to drive UPI growth across overseas markets

NPCI plans to use the country's vast diaspora to drive global expansion, while also exploring AI-enabled payments through platforms like ChatGPT and Gemini

Sustained investment needed to run UPI reliably: Payments Council of India

The industry body said consumers and small merchants would remain protected from charges, while any merchant service fees would be commercial arrangements with payment providers

Digital payments need a sustainable funding model for future growth

The Lok Sabha's tax amendment Bill opens the door for future UPI merchant charges, reigniting the debate on funding India's fast-growing digital payments ecosystem

UPI fee proposal could complicate quick commerce's rapid expansion

The proposal to levy a fee on UPI transactions could put quick commerce in the slow lane

'Someone has to pay': RBI Governor on proposal to levy MDR on UPI payment

RBI Governor Sanjay Malhotra says digital payment infrastructure has costs as the Union government weighs bringing back MDR on high-value UPI merchant transactions

UPI clocks record monthly volume as July transactions rise 4.1% to 23.66 bn

Transaction volume rose 4.1 per cent from June and 22 per cent year-on-year as everyday digital payments and growing adoption beyond metropolitan markets supported growth

NPCI plans to mask phone numbers on UPI apps to boost user privacy

Following privacy concerns, NPCI has asked UPI apps to hide phone numbers and make username-based payment IDs the default for new users